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Dec 30, 2012
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do you want the government to do nothing about spending? are you happy with obamacare? most would say no, but in the end the choice was between a president who said things aren't great, but i'm still going to try to make them better and a guy he painted as not having a plan and not identifying with the average wants and needs of middle class americans and in the end, people decided to stick with the devil they knew rather than the one they didn't. >> paul: so the election, the republican defeat was big, but it wasn't overwhelming in a sense of repudiation, kim, as far as a republican platform and their agenda? >> no, i think the reason, look, this country had the opportunity in this election to once again hand completely controlled government to democrats. everyone in the house was up for reelection and yet, they continued to give republicans, majority there. they liked divided government and i think you've got to look to the number of states that have elected very conservative governors who are doing the exact opposite of what barack obama is doing at the federal level
do you want the government to do nothing about spending? are you happy with obamacare? most would say no, but in the end the choice was between a president who said things aren't great, but i'm still going to try to make them better and a guy he painted as not having a plan and not identifying with the average wants and needs of middle class americans and in the end, people decided to stick with the devil they knew rather than the one they didn't. >> paul: so the election, the republican...
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Dec 27, 2012
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what obama has been able to do is shift the argument from cutting and spending to now spending and borrowing. cutting is even part of it. >> we have to leave it there. coming up, it's the day after christmas. you know what that means? all the bad kids going bad. [laughter] >> let's tell you what the finalist got from santa. and this woman said she was fired from her job for being too sexy, her boss couldn't handle it. that's ahead on "the five." ♪ with the spark miles card from capital one, thor gets great rewards for his small business! your boa! [ garth ] thor's small business earns double miles on every purchase, every day! ahh, the new fabrics. put it on my spark card. ow. [ garth ] why settle for less? the spiked heels are working. wait! [ garth ] great businesses deserve great rewards. [ male announcer ] the spark business card from capital one. choose unlimited rewards with double miles or 2% cash back on every purchase, every day! what's in your wallet? [ cheers and applause ] >> welcome back. it's been a rough couple months for republicans. they first lost the election -- i guess
what obama has been able to do is shift the argument from cutting and spending to now spending and borrowing. cutting is even part of it. >> we have to leave it there. coming up, it's the day after christmas. you know what that means? all the bad kids going bad. [laughter] >> let's tell you what the finalist got from santa. and this woman said she was fired from her job for being too sexy, her boss couldn't handle it. that's ahead on "the five." ♪ with the spark miles...
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Dec 26, 2012
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. >>> president obama is spending christmas with some of the nation's bravest men and women. greeting marines at a gays near their vacation home in hawaii paying tribute to them and their family. an annual vacation tradition for president obama. that is your 5@5:00. >>> speaking of the president. fox news confirming he will be cutting his vacation short to get back to work on the fiscal cliff. peter doocy has more. >> president obama will departed hawaii for washington, d.c. late tonight leaving his wife michelle and daughters sasha and malia behind. the latest guidance we have from white house is that the president will be back here in the nation's capital where it is presently 36 degrees sometime tomorrow morning. united states government is set to go off the fiscal cliff on new year's day. at this point we don't know if the president plans to return at the to hawaii if the tax hikes are avoided well in advance of the of the new year. he's there to talk to himself. john boehner will come back at any time. his office told us it would be sometime after christmas. so he could
. >>> president obama is spending christmas with some of the nation's bravest men and women. greeting marines at a gays near their vacation home in hawaii paying tribute to them and their family. an annual vacation tradition for president obama. that is your 5@5:00. >>> speaking of the president. fox news confirming he will be cutting his vacation short to get back to work on the fiscal cliff. peter doocy has more. >> president obama will departed hawaii for washington,...
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Dec 24, 2012
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president obama spending the christmas holidays in hawaii, but it's not all fun in the sun. still looming as i've just talked about is this large fiscal cliff as the deadline gets closer, and now there are reports surfacing that the president is looking to strike a partial deal that would extend tax cuts for the middle class while holding off on spending cuts. chief white house correspondent ed henry has the luxury of reporting live in honolulu, hawaii. ed it seems for the first time we might really go off the fiscal cliff which is something that you or so many of us in washington never believed would happen. >> reporter: you're right, kelly. i mean for the longest time there was an expectation in both parties there would be a lot of fighting but right up against the christmas holiday they would finally somehow work this out. that is traditionally what happens on capitol hill. this time as you say leaders in both parties now bracing for the real possibility that we will go off that fiscal cliff, and that tax increases will go across the board for everybody, basically, go bac
president obama spending the christmas holidays in hawaii, but it's not all fun in the sun. still looming as i've just talked about is this large fiscal cliff as the deadline gets closer, and now there are reports surfacing that the president is looking to strike a partial deal that would extend tax cuts for the middle class while holding off on spending cuts. chief white house correspondent ed henry has the luxury of reporting live in honolulu, hawaii. ed it seems for the first time we might...
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Dec 28, 2012
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and don't forget, these are the bush-obama tax cuts. all the president needs to do is actually propose some spending cuts. i think with geithner's admission that the debt ceiling will be burst through on december 31st clearly shows it's a problem. it's time to cut spending, not for now but future generations that have to pay this off. >> it seems to me, congressman gohmert, the bush tax cuts have been law since 2001-2003. it seems if the president doesn't want to go over the fiscal cliff, you guys pass the bill, harry reid could do something he hasn't done in over three years, pass it in the senate, give it to the president, and nobody's taxes are going to go up, crisis averred and then they can spend team after the new year negotiating tax reform, entitlement reform, living within our means. why don't they just do that? >> well, they could, but they want to demonize the house. they want to pontiff indicate without actually doing anything in the way of legislating. sean, if you look back at the history, the deficit ceiling bill back a y
and don't forget, these are the bush-obama tax cuts. all the president needs to do is actually propose some spending cuts. i think with geithner's admission that the debt ceiling will be burst through on december 31st clearly shows it's a problem. it's time to cut spending, not for now but future generations that have to pay this off. >> it seems to me, congressman gohmert, the bush tax cuts have been law since 2001-2003. it seems if the president doesn't want to go over the fiscal cliff,...
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Dec 29, 2012
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president obama says he is optimistic they will come to an agreement if not, deep spending cuts will kick in for nearly every american. helpis one step closer for super storm sandy. senate passing a bill to provide $60.4 billion in aid for states impacted by the disaster. bill now has to pass through the house of representatives. hurricane sandy was blamed for at least 120 deaths in areas from north carolina to maine, new york, new jersey and connecticut. i'm arthel nevil, now back to fox news watch. for all the latest log on to foxnews.com. i'll see you right here at 4:00 p.m. eastern alongside gregg jarrett. >> we will make sure that f there is anything is needed we get it out immediately. i want to thank you for everything you've done and we appreciate that. >> connecticut state police lieutenant paul advance talking to people. the killer committed suicide as police closed in on him. one of many tragedies that received major attention this year. it's a challenge for the media in covering a story like newtown. juan, as you know well know, talking about it is tough for any parent? >
president obama says he is optimistic they will come to an agreement if not, deep spending cuts will kick in for nearly every american. helpis one step closer for super storm sandy. senate passing a bill to provide $60.4 billion in aid for states impacted by the disaster. bill now has to pass through the house of representatives. hurricane sandy was blamed for at least 120 deaths in areas from north carolina to maine, new york, new jersey and connecticut. i'm arthel nevil, now back to fox news...
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Dec 29, 2012
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. >> sean: and where is obama? >> there is no revenue problem it is a spending problem. we have revenue and spending problems right now. it is a slow slope out of this and that is what the president is trying to do to the tune of $4 trillion. >> sean: but joe, stop! four years he has had here and given us $6 trillion in debt. he is trying? he is not cutting spending. >> the revenues got wiped out -- revenues got hit because of the -- because of the recession. that is his part of the problem. that is true. there s a small part there at least. >> sean hannity does any of this create new jobs? we are talking about 2 cents on the dollar. does this deal, joe trippi, create one private sector american job? the answer is no. this is playing to the most extreme liberal base. creates no jobs. explodes the deficit. hurts middle class employment. none has anything to do with the problem that we have which is number one in revenue we are spending too much and number two job creation. none of this helps either one of those things joe trippi and you know that is true. >> i don't know
. >> sean: and where is obama? >> there is no revenue problem it is a spending problem. we have revenue and spending problems right now. it is a slow slope out of this and that is what the president is trying to do to the tune of $4 trillion. >> sean: but joe, stop! four years he has had here and given us $6 trillion in debt. he is trying? he is not cutting spending. >> the revenues got wiped out -- revenues got hit because of the -- because of the recession. that is his...
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Dec 29, 2012
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because when it comes to spending cuts, president obama says his own, his own words, quote, lays the groundwork for that in the future. the last big budget deal in the summer of 2011, it ended with precisely the same promise, which in turn ended in failure and the fiscal crisis facing the country today. why believe him this time? >> the ball is actually not in his court right now. the ball is in the senate and the house court to come up with a bill that he can sign. so he's trying to set a tone right now about what would be acceptable in the short-term. these long-term issues around entitlements are exactly that, they're long-term issues. to manufacture a decision deadline of 48 hours from now is kind of irresponsible because we're talking about systems that have been around for decades now that many americans depend on. we're talking about systems that are really earned benefits. they're not entitlements. we have paid money into. and we're -- >> we're down to the last minute because the president does not want to deal with the debt. he doesn't want to deal with structural entitlemen
because when it comes to spending cuts, president obama says his own, his own words, quote, lays the groundwork for that in the future. the last big budget deal in the summer of 2011, it ended with precisely the same promise, which in turn ended in failure and the fiscal crisis facing the country today. why believe him this time? >> the ball is actually not in his court right now. the ball is in the senate and the house court to come up with a bill that he can sign. so he's trying to set...
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Dec 29, 2012
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tax hikes and deep spending cuts. and here we go again, more snow headed to the the northeast, where a major winter storm already dumped several inches on inland areas. snarling roads, canceling hundreds of holiday flights. two powerful systems expect today come up the east coast by today, from south carolina to new york already issues severe weather warnings. i'm heather childers, now back to bulls and bears and for your latest weather headlines, log on to foxnews.com. you're watching the most powerful name in news. >> canceled, that's what thousands of ticked off holiday travelers are seeing on airport monitors this week. and while the nasty weather is to be blamed, toby says we should blame government regulations. >> here is a fact when it's a $27,000 fine if you're on the tarmac for more than three he hours in a minute which i was about two and a half years ago before they did this, what happens is, they get fined $27 grand per passenger and now they're doing, what they call in the industry the economic kill and l
tax hikes and deep spending cuts. and here we go again, more snow headed to the the northeast, where a major winter storm already dumped several inches on inland areas. snarling roads, canceling hundreds of holiday flights. two powerful systems expect today come up the east coast by today, from south carolina to new york already issues severe weather warnings. i'm heather childers, now back to bulls and bears and for your latest weather headlines, log on to foxnews.com. you're watching the most...
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Dec 28, 2012
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and compromise includes spending cuts and tax hikes. >> can i get a word in, guys? >> brent, the republicans passed a bill. the republicans pass it had. senate democrats haven't passed a bill in 1300 days. you have to be kidding me. >> it's much easier for the democrats to sit and file their nails and say those awful republicans. look at those awful republicans go. the democrats haven't done anything. now what is the opposition to this super tax on the greedy rich? well, the republicans have argued for 20, 30, 40, 50 years that high taxes stifle economic growth. president obama said two years ago when he didn't do this two years ago, he said the wrong thing to do in a bad economy is to raise taxes. now suddenly both sides are considering doing exactly that. you've got three different studies of that shown that if you raise these taxes, you are going to kill somewhere between $700,000 and -- 700,000 and 1.1 million jobs. but all that not be standing, it has nothing to do with the issue. the issue has been, will continue to be, spending. >> okay. >> that's what no one
and compromise includes spending cuts and tax hikes. >> can i get a word in, guys? >> brent, the republicans passed a bill. the republicans pass it had. senate democrats haven't passed a bill in 1300 days. you have to be kidding me. >> it's much easier for the democrats to sit and file their nails and say those awful republicans. look at those awful republicans go. the democrats haven't done anything. now what is the opposition to this super tax on the greedy rich? well, the...
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Dec 26, 2012
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president obama spending the last few hours in hawaii relaxing before he heads back to washington to hope to get a deal and avoid the fiscal cliff. we look at what happens if the deal does not happen. spoiler alert, it will cause you money. grapevine, david gregory could be in trouble for a segment on his sunday show. we show you what happened. "special report" starts at 6:00 p.m. eastern standard time. now back to new york and "the five." ♪ ♪ ♪ >> kimberly: is it a horrible offense to be too good look? apparently so in iowa. they ruled a dentist james night had a right to fire his dental assistant melissa nelson for being too irresistible. and a perceived threat to his marriage. nelson worked in the office for ten years said she viewed knight as father figure and was fired after his wife complained about his infatuation with her. >> after working for so many years side-by-side, i didn't have any idea that that would have crossed his mind. i think it sends a message that men can do whatever they want in the workforce. >> kimberly: not nice. but apparently the iowa supreme court
president obama spending the last few hours in hawaii relaxing before he heads back to washington to hope to get a deal and avoid the fiscal cliff. we look at what happens if the deal does not happen. spoiler alert, it will cause you money. grapevine, david gregory could be in trouble for a segment on his sunday show. we show you what happened. "special report" starts at 6:00 p.m. eastern standard time. now back to new york and "the five." ♪ ♪ ♪ >> kimberly: is...
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Dec 28, 2012
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and spending cuts from kicking in. ed payne has theestory. 3 in what is seen as a last-minnte attempt to reach a deal, president obama mmets t the white house with senate majority leader harry reid,, pelosi, senate minority leader miich mcconnell and houue &psppaker john bbehner. they have only our days to reach an agreement... or the u-s economy will go over thee so-called "fiscal cllff." that's when automattc tax increasse and ssendinngcuts would take effect. reaching a deal beeooe then on't be easy. becauseeright now, both high-stakes political blame game. we are here in washingtonnworking while the members of the house of reeresentatives are out watching movies and watching the kids play soccerrand bbsketball and doing all kinds oo things. they should be here. i told the prreident i'd beehappy to look at whateeer he proposes but the truth is we're coming up against a hardd &pthis is a conversation we &pbbsh-era tax cuts to everyonne except those americans making year. many republicans rrmain - against any tax incce
and spending cuts from kicking in. ed payne has theestory. 3 in what is seen as a last-minnte attempt to reach a deal, president obama mmets t the white house with senate majority leader harry reid,, pelosi, senate minority leader miich mcconnell and houue &psppaker john bbehner. they have only our days to reach an agreement... or the u-s economy will go over thee so-called "fiscal cllff." that's when automattc tax increasse and ssendinngcuts would take effect. reaching a deal...
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Dec 27, 2012
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if you look two years ago at the ratio obama was proposing spending cuts versus revenue. it was four to one. now it's one to one. >> you have that $1 trillion already passed. >> you do. but i think the credit the tea party gets for shifting that debate wag overblown. >> but it was deficit reduction versus short-term spending at the start of 2010. and it immediately moved to deficit reduction and how to do it. and that was a very fundamental, important shift in the conversation. >> we have to go, but -- we have to go, but i heard that after the show, sam stein will be on twiner. you can be there, too. >> we can get together. >> we have another important item, though, which is the biggest hurdle arguably to president obama's second term agenda. that's something you're probably never going to hear about, literally. people think of the filibuster as a talk athon to stop action in the senate. but nowadays it has been attacked with a constant extreme of silent filibusters. up next, the talking filibuster ahead live. >>> time for the your business preer oes weeks. amber and mark
if you look two years ago at the ratio obama was proposing spending cuts versus revenue. it was four to one. now it's one to one. >> you have that $1 trillion already passed. >> you do. but i think the credit the tea party gets for shifting that debate wag overblown. >> but it was deficit reduction versus short-term spending at the start of 2010. and it immediately moved to deficit reduction and how to do it. and that was a very fundamental, important shift in the...
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Dec 26, 2012
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the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a scary statistic for the recent college graduates. the number of young californians with the degrees working in restaurants or the retail, they have nearly doubled over the last five years. cbs 5 reporter tells us that these are the same people who have expensive college loans to pay off. >> reporter: when you're shopping this holiday season, or eating out, take a look around. you might notice a lot more people under 30 working those jobs. according to the census bureau, there are about 260,000 young adults with college degrees in california, taking work and food service in retail because they can't get anything else. >> it's pretty sad now, yeah. >> reporter: graduating with a computer science degree. >> i graduated with my b
the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a scary statistic for the recent college graduates. the number of young californians with the degrees working in restaurants...
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Dec 24, 2012
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president obama spending holidays in beautiful hawaii where reports now surfaced where he is looking to strike a smaller fiscal deal that would extend tax cuts for the middle class but not tackling any spending cuts. chief white house correspondent ed henry is live in honolulu with more. ed, for the first time, people like joe lieberman are saying i really think we'll go over the cliff. what do you hear? >> reporter: it's a real possibility, you're right. we're a week out. people on both sides have been talking this thing to death. it might need a christmas miracle at this point to avoid going off the cliff. the president scaled back plan basically would extend unemmoment benefits for two million people who will lose them a week after christmas if there is no deal. he also wants to extend tax cuts for 98% of americans. you heard him talk about that again and again. that level of $250,000 or less. the republicans have not afreed to that on the hill obviously. when you talk to folks like senator lindsey graham, they say the big issue is not taxes, it is spending cuts. take a listen. >>
president obama spending holidays in beautiful hawaii where reports now surfaced where he is looking to strike a smaller fiscal deal that would extend tax cuts for the middle class but not tackling any spending cuts. chief white house correspondent ed henry is live in honolulu with more. ed, for the first time, people like joe lieberman are saying i really think we'll go over the cliff. what do you hear? >> reporter: it's a real possibility, you're right. we're a week out. people on both...
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obama's spending being higher than the bush years. that is not true. the deficit which increases our debt grew so much under obama because he put both wars into the budget. george bush kept him out of the budget -- them out of the budget. was not paying for them, so things looked good. in the first few years of the obama administration, he created more jobs than george bush did in eight years. was theush's, at surpluses are for spending. -- comment was the surpluses are for spending. the put us in massive debt, left it on obama. -- he put us in massive debt, left it on obama. these people sit here and watch these idiots on tv say these things are not true. and then they go and push based on what they're hearing instead of looking into the fact of the matter. host: mr. forbes? guest: i did make mention that spending did increased dramatically under george bush. no matter how you account for the wars, domestic spending under president obama increased very substantially to the point that it is the highest it has been without a world war. theses why we're
obama's spending being higher than the bush years. that is not true. the deficit which increases our debt grew so much under obama because he put both wars into the budget. george bush kept him out of the budget -- them out of the budget. was not paying for them, so things looked good. in the first few years of the obama administration, he created more jobs than george bush did in eight years. was theush's, at surpluses are for spending. -- comment was the surpluses are for spending. the put us...
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president obama released a statement shortly after the senate vote. it reads in part "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of new spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> that vote may not come right
president obama released a statement shortly after the senate vote. it reads in part "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of new spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> that vote may not come...
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Dec 29, 2012
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. >> harris: if congress cannot work out a deal, tax hikes, spending cuts will take effect on tuesday of next week. president obama says he is willing to give congress a little time to come up with a compromise but his patience is limited well as is the rest of the country's. ed henry with the news live at the white house. ed, first, a dramatic meeting earlier today at the white house. and then this ultimatum from the president. >> that's right, harris. it was a dramatic exchange. what i'm told by a senior white house official is that the president basically told john boehner and mitch mcconnell the republican leaders in the room here for this meeting that he wants an up or down vote on his scaled back bill to try to avoid this fiscal cliff. and he basically turned on them and said so what's your response? what's your move? the next move is yours. and then i'm told that mitch mcconnell and harry reid, the democratic leader in the senate jumped in before john boehner really got a chance to fully respond and say, look, we will take the ball and try to pass a bipartisan bill in the senat
. >> harris: if congress cannot work out a deal, tax hikes, spending cuts will take effect on tuesday of next week. president obama says he is willing to give congress a little time to come up with a compromise but his patience is limited well as is the rest of the country's. ed henry with the news live at the white house. ed, first, a dramatic meeting earlier today at the white house. and then this ultimatum from the president. >> that's right, harris. it was a dramatic exchange....
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. >> president obama drawing strong criticism about the wars in iraq and afghanistan and he said hagel is the wrong man for the job. ♪ ♪ >> clayton: welcome back. lawmakers have eight days left when a series of spending hikes and tax cuts come n you will see a slash of spending of 500 billion dollars over the next 10 years and nine percent in speppeding alone. joining us is ceo of concerned veterans for america and u.s. army veteran himself. pete, nice to see you and merry christmas to you. >> thank you for having me. >> clayton: defense cuts set to take place in the end of the year . president obama knows this and set to expire is the bush era tax cuts . what impact will this have on the military? >> it will have an across the board impactit sequestration is so bad. we'll get across the board training to maintenance and to the next weapon system and on base things provided for families and tri-care. it hits everything. secretary panetta called it a meat axe. our readiness will be stunted by sequestration . it is bad policy. >> clayton: republicans agreed to it. you agree and say t
. >> president obama drawing strong criticism about the wars in iraq and afghanistan and he said hagel is the wrong man for the job. ♪ ♪ >> clayton: welcome back. lawmakers have eight days left when a series of spending hikes and tax cuts come n you will see a slash of spending of 500 billion dollars over the next 10 years and nine percent in speppeding alone. joining us is ceo of concerned veterans for america and u.s. army veteran himself. pete, nice to see you and merry...
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president obama says the u.s. cannot afford a politically self-inflicted wound to our economy. >> fortunately congress can prevent it from happening if they act right now. i just had a good and constructive discussion with senate and house leadership about how to prevent this tax hike on the middle class. i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> the wild card is figuring out what it will take to get a final deal to pass in the house of representatives. they return tomorrow, probably around when we find out if the top two senators reached an agreement. >> gregg: mike emmanuel live in washington. thanks very much. be sure to watch fox news sunday tomorrow. chris wallace talks fiscal cliff with u.s. senators lindsey graham and diane feinstein. check your local listings for the times. >> arthel: with a possible agreement being worked on behind closed doors to avoid going over the fiscal cliff, one casualty could be the defense department. severe financial cuts cou
president obama says the u.s. cannot afford a politically self-inflicted wound to our economy. >> fortunately congress can prevent it from happening if they act right now. i just had a good and constructive discussion with senate and house leadership about how to prevent this tax hike on the middle class. i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> the wild card is figuring out what it will take to get a final deal to pass in the...
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. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the formula for how we solve this thing, then they've got another think coming. >> that midday news conference didn't go over well with a lot of republicans, and they said that the president's sometimes mocking tone, as they felt it was, could hurt the fiscal cliff deal in the house. >> as i sort out my impressions of the president's remarks as to whether to be angry or to saddened. we have the president of the united states go over and have a cheerleading ridiculing of republicans exercise. >> let's bring in democratic strategist and former edwards communications director chris ka fiance and republican strategist and
. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the...
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Dec 30, 2012
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the house has passed two budgets that would spend $7 trillion less than what president obama's budgets were proposed at. again, remember president obama's budgets didn't get a vote from a member of his own party. we do need -- we know -- we understand that his balanced approach is primarily tax increases that don't begin to solve the problem. we are talking right now, even more -- most robust increase in taxes would raise maybe $75 to $80 billion. so this tax increase will take care of maybe 3 to 7% of the deficit. he has talked about a balanced approach. what is the solution for the other 93%? that's what we have to start getting our arms around. creditors around the world, at some point are going to take a look at the united states government and say, we are not going to loan you money. when the interest rates inch up, we crowd out all kinds of spending. if we revert to the average interest rate we had from 1970 to 1999, 5.3% that, cost $600 billion per year in added interest expense. that's what we are trying to avoid with a fiscally responsible plan. >> we stand by with you and the
the house has passed two budgets that would spend $7 trillion less than what president obama's budgets were proposed at. again, remember president obama's budgets didn't get a vote from a member of his own party. we do need -- we know -- we understand that his balanced approach is primarily tax increases that don't begin to solve the problem. we are talking right now, even more -- most robust increase in taxes would raise maybe $75 to $80 billion. so this tax increase will take care of maybe 3...
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Dec 28, 2012
12/12
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president obama and congressional leaders will meet this afternoon at the white house in a last-ditch effort to avoid a self-inflicted fiscal calamity. this is the first meeting between the power plays in six weeks. if they can't work out some kind of agreement automatic tax hikes and spending cuts will go into affected new year's day, which will impact most americans and will put the nation back into recession. >> we are coming up against a hard deadline. >> at today's meeting, president obama will push for a stop gap measure, a small deal that will at least prevent tax increases for those earning $250,000 or less. but even that seems unlikely. >> the american people have a right to be very upset with this congress. >> publicly, both sides have ratcheted up rhetoric, pointing the finger. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> the only reason why democrats have been trying to defect -- deflect attention over the past few weeks is they did not have a plan of their own. >> the path for the rest in the hands
president obama and congressional leaders will meet this afternoon at the white house in a last-ditch effort to avoid a self-inflicted fiscal calamity. this is the first meeting between the power plays in six weeks. if they can't work out some kind of agreement automatic tax hikes and spending cuts will go into affected new year's day, which will impact most americans and will put the nation back into recession. >> we are coming up against a hard deadline. >> at today's meeting,...
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Dec 24, 2012
12/12
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moments after president obama was declared the victor, the money struggle in washington stole the spotlight as lawmakers debated over how to avert the fiscal cliff. mother nature took a toll on several parts of the country this year. superstorm sandy ripped through the northeast in late october, leaving a trail of damage along the way. the storm racked up damage of around $60 billion, making it the second most expensive storm ever for the u.s., following hurricane katrina. the storm destroyed houses and businesses on the east coast, leaving millions without power. just months earlier, crop prices shot up following a massive drought that hit the midwest and some northern states. weeks without rain sent corn and soybean prices sky-high. it was estimated that the drought was the worst in nearly a quarter of a century. 2012 was not without its controvesies. trading scandals rocked the news, highlighted by jpmorgan chase. the big bank lost more than $2 billion in what was called "a trading debacle." ceo jamie dimon took a trip to capitol hill for a testimony where he told senators that the indus
moments after president obama was declared the victor, the money struggle in washington stole the spotlight as lawmakers debated over how to avert the fiscal cliff. mother nature took a toll on several parts of the country this year. superstorm sandy ripped through the northeast in late october, leaving a trail of damage along the way. the storm racked up damage of around $60 billion, making it the second most expensive storm ever for the u.s., following hurricane katrina. the storm destroyed...
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Jan 1, 2013
01/13
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the big cliff still lies in front of us. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush-era tax cuts remain in place for individuals earning as much as $400,000 a year, far above the 250,000 level on which president obama campaigned. but those making more will see higher income taxes, capital gains, plus a new health care reform surtax. rob wood says you'll notice in your paycheck one popular tax cut will be history. >> the average person, say, earning $50,000 a year is going to pay about $1,000 more in payroll taxes in 2013. >> reporter: the fiscal cliff agreement also increases taxes on estates worth more than $5 million and extends unemployment benefits for one year and keeps the child tax credit for workers who don't earn enough to pay income taxes. the alternative minimum tax got a pat for inin addition. that shields 33 million taxpayers. even with the budge
the big cliff still lies in front of us. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush-era tax cuts remain in place for individuals earning as much as $400,000 a year, far above the 250,000 level on which president obama campaigned. but those making...
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Dec 29, 2012
12/12
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spending cuts and tax hikes that will bite if lawmakers fail to come up with a plan. >> pessimism remains the prevailing mood in washington as the january deadline rapidly approaches. neither democrats nor republicans have any new proposals for a workable compromise. >> the starbucks coffee chain has urged its workers in washington, d.c., area to write "come together" on the cups, a plea for party leaders to work out a compromise, but some customers say that is not enough. >> i mean, i like with starbucks is riding on the cups. i wish they would write, like, something else, like "republicans, stop being stupid." >> i think the solution will probably be neutered and not very effective, but ultimately, i think they will avoid the fiscal cliff. >> but neither side appears willing to give in. democrats, for example, are frustrated that republicans will not agree to raise taxes on the wealthy. >> the majority of rich people in our great country are willing to pay more. the only people who disagree with that are republicans who work in this building. >> republicans say that democrats want to sp
spending cuts and tax hikes that will bite if lawmakers fail to come up with a plan. >> pessimism remains the prevailing mood in washington as the january deadline rapidly approaches. neither democrats nor republicans have any new proposals for a workable compromise. >> the starbucks coffee chain has urged its workers in washington, d.c., area to write "come together" on the cups, a plea for party leaders to work out a compromise, but some customers say that is not enough....
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Dec 30, 2012
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that would extend middle-class tax cut, deal with spending cuts. it's a basic plan that the president is calling for. something similar has already passed so the white house feels confident that what the president is calling for could again pass through the senate and get through the house. in order for that to happen, richard, that would involve every single democrat in the house voting for it as well as about 30 republicans. so the question is could they actually get that many republicans to vote for this pack am that the president is calling for. but politically what he is doing is essentially saying this is the plan i'm putting forth, let's get it through the senate and if it fails, it will fail through the senate house, letting republicans own that failure. putting it in a box. president obama giving the lawmakers here two options. one, to come up with their own alternative proposal. of course, that's something senate majority leader harry reid will work on. if not, he'll say put my plan to basic up or down vote. richard? >> kristen, i didn't
that would extend middle-class tax cut, deal with spending cuts. it's a basic plan that the president is calling for. something similar has already passed so the white house feels confident that what the president is calling for could again pass through the senate and get through the house. in order for that to happen, richard, that would involve every single democrat in the house voting for it as well as about 30 republicans. so the question is could they actually get that many republicans to...
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Jan 1, 2013
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president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is spending. the president suggested lawmakers make action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm willing to support revenues to deal with this problem. the overall problem. but what i will not grow to is using revenues to replace spending reductions. >> reporter: even if the senate approves the deal by midnight the house still has to pass the measure before the president can sign it into law. the house left earlier this evening, but it doesn't matter in terms of the "fiscal cliff" agreement b
president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is...
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Dec 28, 2012
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is more to blame for not agreeing to more spending cuts and 15% blame both sides. joining us now from new york, julie riganski, a democratic strategist and here in washington, steven moore, a member of the "wall street journal" editorial board. sesteven, let's start with you. great to hear harry reid on this. the last time i checked the do so called proposal that a he put forth in july didn't really receive any support and only dealt with tax increases. it wasn't a comprehensive deal and didn't involve real spending cuts it was just raise tax and it went no where. for him to blame republicans, come on. >> don't forget, it has been 13 hyundais since hair arery reid even passed a budget out of the united states senate. we don't even know what the united states senators stand for in terms of the budget debate. the same thing on taxes. the house actually passed a lot of people don't know that earlier this year the house passed a bill to extend all of the bush era tax cuts for another year until resolve the issue. the senate again didn't act on that. the grave yard of t
is more to blame for not agreeing to more spending cuts and 15% blame both sides. joining us now from new york, julie riganski, a democratic strategist and here in washington, steven moore, a member of the "wall street journal" editorial board. sesteven, let's start with you. great to hear harry reid on this. the last time i checked the do so called proposal that a he put forth in july didn't really receive any support and only dealt with tax increases. it wasn't a comprehensive deal...
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Dec 26, 2012
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the country is a week away from tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid. >>> it's a scary statistic for recent college graduates. the number of young californians with degrees working in restaurants or retail has nearly doubled over the last five years. grace lee tells us these are the same people who have expensive college loans to pay off. >> reporter: when you're shopping this holiday season or eating out, take a look around. you might notice a lot more people under 30 working those jobs. according to the census bureau there are about 260,000 young adults with college degrees in california taking work in food service and retail because they can't get anything else. >> pretty sad now. >> reporter: roary graduated with a computer science degree. >> i graduated with my bachelors in 2009 and my first job was at a retail store. at first it was kind of embarrassing. >> i couldn't get a job in the field i wanted to. i figured i have to go to law school to get where i wanted to be
the country is a week away from tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid. >>> it's a scary statistic for recent college graduates. the number of young californians with degrees working in restaurants or retail has nearly doubled over the last five years. grace lee tells us these are the same people who have expensive college loans to pay off. >> reporter: when you're...
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Dec 30, 2012
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president obama wants higher taxes on the wealthy, stimulus spending, limited cuts to entitlements, and speaker boehner wants limited tax increases and keep his job. bob, which -- where do we go from here if a deal isn't hashed out in the next few hours? >> not necessarily in that order. i think the priorities for john boehner may have been turned around. jared is an old jazz fan, as am i, and he knows that miles davis had a song called "so what" and i think that might be the background music right now as all the posturing is going on in public. the simple fact of the matter is that they are setting up the process for working out a deal after they have scared the daylights out of everybody, and it would seem to me that to quote another song, which is "what are you going to be doing new year's eve," i think that we'll be finding that these people are still hard at it and maybe calling congress into session tomorrow night which is a really rotten way to end the year. >> jared, explain for our viewers what it really means to go over the cliff. >> well, first of all, as a former jazz bassis
president obama wants higher taxes on the wealthy, stimulus spending, limited cuts to entitlements, and speaker boehner wants limited tax increases and keep his job. bob, which -- where do we go from here if a deal isn't hashed out in the next few hours? >> not necessarily in that order. i think the priorities for john boehner may have been turned around. jared is an old jazz fan, as am i, and he knows that miles davis had a song called "so what" and i think that might be the...
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Dec 25, 2012
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the obama plan, to the speakersi boehner plan, it will either o alter the rising rate of spending were less than the science of our bloated government. the answer in tonight "chalk talk" is coming up so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. lou: you know, everybody's getting pretty excited about that fiscal cliff negotiation or impasse, however you want to3 style it. mayi want t showu, lou: everybody is getting re ofed about the fiscal clifft, negotiation. i thought i would show you what thuld happen if we change into the speaker boehner plan, the president obama plan, let's start out with the do-nothing plan because that's the plan we0 have right now. the cbo estimates fiscal year 2013 deficit will be, well,lionf $104 trillion f
the obama plan, to the speakersi boehner plan, it will either o alter the rising rate of spending were less than the science of our bloated government. the answer in tonight "chalk talk" is coming up so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run...
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Jan 1, 2013
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but the other big obama prize is no spending cuts. i mean, a few republicans are going to give in on this position you have held for decades, what are you going to get in return for? remember that great "wall street journal" article where john boehner says, i'm putting all this revenue on the table. what am i going to get? barak obama says, you get nothing. i get it for free. that's what happened. >> brian: that's what happened so far. it's amazing because if the president actually wanted to balance the budget, he would be doing cuts. it doesn't seem like he's playing for the same goal as the average american, politics aside. >> we have one side that wants higher taxes and one side that wants lower spending. they're banging into each other. >> brian: thanks for coming in. >> thank you. >> steve: happy new year. >> brian: straight ahead, president obama wanted congress to get raises. but most americans think they're doing a very bad job. will lawmakers see more money in their paychecks? there is an update. >> steve: kind of a diplomay
but the other big obama prize is no spending cuts. i mean, a few republicans are going to give in on this position you have held for decades, what are you going to get in return for? remember that great "wall street journal" article where john boehner says, i'm putting all this revenue on the table. what am i going to get? barak obama says, you get nothing. i get it for free. that's what happened. >> brian: that's what happened so far. it's amazing because if the president...
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Jan 1, 2013
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. >>> president obama says the agreement reached by the senate is the, quote, right thing to do for our country and is encouraging the house to pass it without delay. >>> secretary of state hillary clinton is spending this new year's day in a new york hospital where she is being treated for a blood clot near her brain. doctors are using blood thinners to try to break up the clot which was found more than two weeks after clinton fainted and suffered a concussion. while the clot could have been serious, even fatal, doctors say she's expected to make a full recovery. >>> in california, a big new year's eve fireworks show in sacramento was called off at the last minute because of a deadly shooting. two people were killed and three others injured in a gunfight outside a restaurant and police decided to call off the nearby celebration that was expected to draw 40,000 people. >>> but here in new york city, the big apple, things were peaceful as more than a million people packed times square for the biggest new year's eve celebration of all. with party hats, 2013 glasses and a blizzard of confe
. >>> president obama says the agreement reached by the senate is the, quote, right thing to do for our country and is encouraging the house to pass it without delay. >>> secretary of state hillary clinton is spending this new year's day in a new york hospital where she is being treated for a blood clot near her brain. doctors are using blood thinners to try to break up the clot which was found more than two weeks after clinton fainted and suffered a concussion. while the clot...
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Dec 31, 2012
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entitlements that obama thinks -- he is spending $5 million of taxpayer money for a vacation. everybody is going to have to pay more taxes. why? what are the entitlements going to the politicians? they get a six-figure salary and everything is paid for. you try to get into the white house or one of the senator's place. they are heavily guarded with rifles. it is the democrats back door. you have to know what is in the bill. host: thank you for the call. this is from "the washington times." "leaders find agreement on farm bill." host: and from nbc news, moron hillary clinton, -- more on hillary clinton who remains hospitalized this morning after it blood clot had formed. the clot stems from a concussion she sustained several weeks ago. she is in new york president obama -- new york presbyterian hospital. her doctors will continue to assess her condition and will determine if any further action is required. she has not been seen in public in three weeks. was supposed to come back to office this week. next is ron from cincinnati, good morning. caller: i wish mrs. clinton well. th
entitlements that obama thinks -- he is spending $5 million of taxpayer money for a vacation. everybody is going to have to pay more taxes. why? what are the entitlements going to the politicians? they get a six-figure salary and everything is paid for. you try to get into the white house or one of the senator's place. they are heavily guarded with rifles. it is the democrats back door. you have to know what is in the bill. host: thank you for the call. this is from "the washington...
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Dec 27, 2012
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on the table was $1.4 trillion in higher taxes over ten years, and $800 billion in lower spending. that's taking a lot of liquidity out of the economy. >> okay, barry, last question here. fill in the blanks for me. if we hold x, then this correction will not happen. >> if we hold, i mean, key support level certain little on the s&p 500. look for 1400, would be a key support level to hold there. we'd want to bounce back up. but what you really would be looking for, i showed on the charts, key resistance levels. what you really want to see, we have not been able to break above those resistance levels. you need to break above those resistance levels very convincingly if you're going to convince me there's going to be a rally in 2013. >> barry, thank you, joining us tonight from miami. >> thank you. >> you look what barry has to say? >> i think you should get a correction here. >> do you like the notion of the presidential cycles? >> i look more, you know, so, you're dealing right now, there are so many headlines out there and you are trying to decipher what's important, if you are foc
on the table was $1.4 trillion in higher taxes over ten years, and $800 billion in lower spending. that's taking a lot of liquidity out of the economy. >> okay, barry, last question here. fill in the blanks for me. if we hold x, then this correction will not happen. >> if we hold, i mean, key support level certain little on the s&p 500. look for 1400, would be a key support level to hold there. we'd want to bounce back up. but what you really would be looking for, i showed on...
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Dec 30, 2012
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president obama initially suggested $250,000 or above should see an increase. that number will probably be maybe 400,000, 500 thousands, but republicans want to see spending cuts. today they talked about changing the way social security benefits would be administered over time and save money, entitlement reform. that's off the table so republicans are saying where are we going off spending cuts? there's a hangup there. democrats on the other hand looking for a way to keep taxes for high for the higher income earners. instead of $400,000 they would like to lower that to $250,000 or above, so there's a sticking point on taxes and spending. but as you said, all eyes should be on the senate. the senate needs to pass a bill and it's run by democrats. they're really fighting amongst themself now to agree on a measure they can pass. literally by tomorrow, by new year's eve, in order to send something to the house in time to avert the fiscal cliff. >> you're the expert on this. you work on the hill every day. procedurally we've gotten past the point to get anything pas
president obama initially suggested $250,000 or above should see an increase. that number will probably be maybe 400,000, 500 thousands, but republicans want to see spending cuts. today they talked about changing the way social security benefits would be administered over time and save money, entitlement reform. that's off the table so republicans are saying where are we going off spending cuts? there's a hangup there. democrats on the other hand looking for a way to keep taxes for high for the...
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Dec 24, 2012
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president obama campaigned on the idea of 800 billion in new revenue, and when he won re-election, he suddenly said i'm going to double it. i'm demanding now $1.6 trillion in new revenue. i mean, how do you negotiate with a guy who keeps changing his proposal? >> well, what's interesting is that speaker boehner would have, his proposal would have generated $800 billion in new revenue, and he couldn't get republicans of his own party to go along with it. you've got to pass something to begin a process of the give and take. and -- gregg: dick, you're dodging my question. >> that's democrats' problem, they've got to pass a bill. gregg: he said i want 800 billion in new revenue, and the immediately after the election boehner goes to him and says here it is, and he said, no, no, no, now i want 1.6 trillion. come on, dick. >> well, i mean, i think it's important to understand that this president won a huge victory based on raising taxes on everybody that makes -- gregg: so he gets to double the amount he asked for? >> no, no. i mean, i think it's done with following the plan that he propose
president obama campaigned on the idea of 800 billion in new revenue, and when he won re-election, he suddenly said i'm going to double it. i'm demanding now $1.6 trillion in new revenue. i mean, how do you negotiate with a guy who keeps changing his proposal? >> well, what's interesting is that speaker boehner would have, his proposal would have generated $800 billion in new revenue, and he couldn't get republicans of his own party to go along with it. you've got to pass something to...
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Dec 25, 2012
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. >>> president obama spending christmas in hawaii. the president going golfing for christmas eve. he's there with his family on vacation. the president greeting people at the golf course there and afterwards, the obamas went to plymouth rock beach on a marine corps base there. >> clayton: thanks. our nation has a long history of faith. but how does faith fit into politics. juan williams is here next with his analysis about it. >> rick: we told but this cop jumping into freezing water to save someone drowning. now the officer is getting the christmas gift of a lifetime. ♪ [ hudson ] we're human. we fall down. we gain weight. and we get back up. strength and determination are human too. so are dinner dates and birthday cake. introducing the new weight watchers 360 program. built for human nature so you can expect amazing. ♪ on top the world right now ♪ join for free and expect amazing. because it works. and there is one store that recognizes it. the sleep number store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive
. >>> president obama spending christmas in hawaii. the president going golfing for christmas eve. he's there with his family on vacation. the president greeting people at the golf course there and afterwards, the obamas went to plymouth rock beach on a marine corps base there. >> clayton: thanks. our nation has a long history of faith. but how does faith fit into politics. juan williams is here next with his analysis about it. >> rick: we told but this cop jumping into...
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Dec 27, 2012
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what obama is able to do is shift the argument from cutting and spending to now spending and borrowing. cutting is part of it. >> eric: leave it there. coming up, the day after christmas. you know what that means? all the bad gifts are going back. tell you what the five of us got from san. the plus, this woman says she was fired from her job for from being too sexy. her boss couldn't handle it. her story ahead on "the five." ♪ ♪ >> andrea: welcome back. rough couple of months for republicans. they first lost the presidential election. i guess you can keep the music going. why not? losing ground for negotiation on deal for fiscal cliff so no surprise they are using hope for the future. "washington post"/abc news poll says 72% of the g.o.p. is fearful about what lies ahead in 2013. all right, so let's take a look at the 72% of republicans say they are very fearful, which is up by double digits than what they were i guess under president bush. so greg, are republicans more grounded in reason, they see the future as nail biter? >> greg: conservatives are vampire killers. liberals hate
what obama is able to do is shift the argument from cutting and spending to now spending and borrowing. cutting is part of it. >> eric: leave it there. coming up, the day after christmas. you know what that means? all the bad gifts are going back. tell you what the five of us got from san. the plus, this woman says she was fired from her job for from being too sexy. her boss couldn't handle it. her story ahead on "the five." ♪ ♪ >> andrea: welcome back. rough couple of...
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Dec 31, 2012
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can they resolve the disagreement offer spending cuts? democrats are resisting. they want a longer perhaps one-year delay and president obama was trying to rally those disappointed democrats with remarks that he just made by citing gains that he had won in terms of energy and education tax breaks he supported in the past and vowing to seek more revenue later on when we get to the discussion of entitlement cuts or what republicans believe is safer ground. saw some tweets saying he is trying to gum up the works. but there is the way the to and fro negotiation of president obama making sure his own troops are in line if he makes a deal. >> absolutely. talking to and fro, when president obama was speaking and saying a fiscal cliff deal was in sight, we saw the dow spike back above the 13,000 market pch pairing those gains a little bit as we speak. still below the 13k mark right now. we will watch this as we continue to get headlines. let's talk to aimian who is also falling a minute by minute changes. what is the latest in your camp? >> the deal john just outlined wo
can they resolve the disagreement offer spending cuts? democrats are resisting. they want a longer perhaps one-year delay and president obama was trying to rally those disappointed democrats with remarks that he just made by citing gains that he had won in terms of energy and education tax breaks he supported in the past and vowing to seek more revenue later on when we get to the discussion of entitlement cuts or what republicans believe is safer ground. saw some tweets saying he is trying to...